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Oman Development Bank says loan portfolio supports 20,000 SMEs

Muscat - 

Hamad bin Salim al Harthy, assistant general manager of branches at Oman Development Bank (ODB), said that the bank's current loan portfolio supports more than 20,000 SMEs in all the governorates of the sultanate.

Speaking at the conclusion of a symposium on the 'Development of Small and Medium Enterprises' held recently in Bahla, Harthy said the bank will work on crystallising the decisions taken at the meeting. He said that this would be achieved through restructuring the bank so as to meet the existing approaches that aim to develop small and medium enterprises (SMEs) in the sultanate in the future according to the requirements of this current stage and as per the exigencies of the government aiming to support SMEs.

Harthy added that ODB will take this step so as to be able to provide its services and banking facilities to meet the aspirations of entrepreneurs and owners of SMEs due to the fact that its finance is the basis for establishing and developing enterprises.

“ODB’s restructuring will contribute to developing the services of the bank more effectively in supporting the entrepreneurs who are looking forward to benefiting from its different services and products in establishing and developing their own enterprises.  Currently, ODB’s loan portfolio supports and provides finance to more than 20,000 SMEs; in all the governorates of the sultanate,” Harthy said.

He added that the bank contributes effectively in providing the necessary finance for self-employed Omanis in all economic sectors; particularly production and service enterprises.

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